Self-assessed payments and return date

changeforbetter

Hi,

Just wondering (first year returning one for me, so trickier) about the dates of the return and payment both being Jan 31st.

I'm actually likely to claim that I don't owe tax, and am in fact owed money, so I won't make any payment.

If they think I am not correct (as this is my first time) I presume they would give me some grace period to make any payment due.

Or how are they if they disagree in general with your return?

Many thanks for any advice.
CFB.

TheCyclingProgrammer

The whole point of self assessment is that it's down to you to correctly fill out your return and pay any tax it shows you are due.

If HMRC think there is a problem or you are chosen for a random check and mistakes were made resulting in owing tax, you'd owe the unpaid tax plus interest and any further penalties will be based on whether the mistakes were careless or deliberate.

[Deleted User]

TheCyclingProgrammer wrote: »

The whole point of self assessment is that it's down to you to correctly fill out your return and pay any tax it shows you are due.

If HMRC think there is a problem or you are chosen for a random check and mistakes were made resulting in owing tax, you'd owe the unpaid tax plus interest and any further penalties will be based on whether the mistakes were careless or deliberate.

Unfortunately there remains a large number of people who believe either:

a) If you get to the end of the process and the return is submitted successfully everything must be correct.

b) if it isn't - well, HMRC will correct it for you but you have fulfilled all obligations by submitting it.

changeforbetter

TheCyclingProgrammer wrote: »

The whole point of self assessment is that it's down to you to correctly fill out your return and pay any tax it shows you are due.

If HMRC think there is a problem or you are chosen for a random check and mistakes were made resulting in owing tax, you'd owe the unpaid tax plus interest and any further penalties will be based on whether the mistakes were careless or deliberate.

Thanks, obviously I won't be trying to make any mistakes, but this is my first time filling one of these things out, and I have a fairly complicated situation to add to this.

I have already paid tax on some PAYE income of mine, likely overpaid as it was not much over the threshold. In addition I have to report my self-employed earnings (fair bit lower than the PAYE) and of course work out expenses (again my first time!).

I have done my own calculations that I will in fact be owed some tax back, but it is all very new to me this process.

agrinnall

Your real problem is that despite having over 9 months to complete SA you, like many people, have left it to the last minute, and now you're panicking about it. Take it as a lesson for the next return and do it much earlier so that you give yourself plenty of time to resolve any queries.

TheCyclingProgrammer

agrinnall wrote: »

Your real problem is that despite having over 9 months to complete SA you, like many people, have left it to the last minute, and now you're panicking about it. Take it as a lesson for the next return and do it much earlier so that you give yourself plenty of time to resolve any queries.

A million times this.

It still amazes me that every year around this time this board is full of people who don't understand how to fill in their SA or worse haven't even registered for their UTR or online account login.

There's nothing wrong with being unsure how to do something but if you start doing it several months before you're a) more likely to get through to HMRC quicker and b) have loads of time to make sure you get it right.

Savvy_Sue

agrinnall wrote: »

Your real problem is that despite having over 9 months to complete SA you, like many people, have left it to the last minute, and now you're panicking about it. Take it as a lesson for the next return and do it much earlier so that you give yourself plenty of time to resolve any queries.

TheCyclingProgrammer wrote: »

A million times this.

It still amazes me that every year around this time this board is full of people who don't understand how to fill in their SA or worse haven't even registered for their UTR or online account login.

There's nothing wrong with being unsure how to do something but if you start doing it several months before you're a) more likely to get through to HMRC quicker and b) have loads of time to make sure you get it right.

Your advice is quite correct. And I have been gently prodding DH to do his for months and months and months. But only now, when my prods are becoming more insistent, is he getting round to it ...

And DS1's response in December was "But it's not due in until the end of January!" And last week it was "I've still got weeks!"

Keep saying it, but there are some people who just don't listen or learn ...

agrinnall

Savvy_Sue wrote: »

Keep saying it, but there are some people who just don't listen or learn ...

From your recent posts you seem to be getting there, but for some people the only wake up call is a late submission penalty, and even for some of those that doesn't seem to do the trick.

Savvy_Sue

agrinnall wrote: »

From your recent posts you seem to be getting there, but for some people the only wake up call is a late submission penalty, and even for some of those that doesn't seem to do the trick.

I was there some time ago. Sadly it's not me who needs to make the return ...

I sorted out some of the information needed (interest certificates etc) months ago, put them in a special folder on gmail, said they were there, said 'you'll need these', and STILL the other day he said "I don't know what to put for the interest."

He's been busy, you know ... Maybe I wouldn't mind so much if there was any income to show for it ...

DS1 is even worse, but at least he's currently the other side of the world so less annoying!

Cook_County

If you are worried about penalties, you could claim fewer expenses and pay a larger amount of tax to start with.

Savvy_Sue

Cook_County wrote: »

If you are worried about penalties, you could claim fewer expenses and pay a larger amount of tax to start with.

I think we'll be due a refund this year, because he was employed until August 2014, and his income from self-employment is minimal. ATM I don't think he's claiming enough expenses, and want to avoid alarm bells ringing if next year's expenses are markedly higher.

We're nearly there! And even better, there's a couple of leads which mean he might actually earn some money in the current tax year ... :rotfl: maybe even more than his personal allowance!